Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is 10% converted monthly. Find the monthly payment.
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- Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is 10% converted monthly. How much of the 47th payment goes to pay the interest? How much of the 47th payment goes to pay the principal?Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is 10% converted monthly. How much is the outstanding balance after the 46th payment?Consider a loan of 1,000,000 which is to be amortized by 60 monthly payments. The interest rate is 10% converted monthly. Construct the first 5 rows (t=0 to t=4) of the amortization schedule
- Suppose you wish to purchase heavy equipment machinery and a commercial bank will lend you $65,000 for the transaction. The loan will be amortized over 5 years and the nominal interest rate will be 8% payable monthly. Calculate the monthly payment and the annual percentage rate (EAR) of the loan to be amortized.Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12% converted monthly. 1. How much is the outstanding balance after the 36th payment? 2. How much of the 37th payment goes to pay the interest the principal?You buy items costing $800 and finance the cost with a fixed loan installment for 18 months at 5% simple interest per year. What is the finance charge? What is the monthly payment?
- Suppose you take a 6 year loan of $50,000 with an annual interest rate of 13% and monthly payments starting at the end of year 1. What are the monthly loan payments? Enter your response below.Suppose that you have good credit and can get a 30-year mortage for $100,000 at 5%. What is your monthly payment. After computing the monthly payment, create an amortization schedule for the first three payments of the problem.PLEASE DO THE FOLLOWING ON AN EXCEL SPREADSHEET: Consider a loan of $1,000,000 with the nominal annual interest rate of 10% compounded annually that must be paid off in 15 years. The loan fees include 2.0 points plus originating fee of $1,000. Calculate the loan monthly installments and APR of the loan.
- A $400 loan is to be amortized with eight quartely payments over 2 years. If the interest is at J4 = 10% a. Find the quartely payment b. Construct an amortization schedule for this loan payment.Determine the monthly payment if you take out a loan for $ 220000 with an annual interest rate of 9% and the term of the loan is 15 years.Calculate the monthly payment required for a loan of $200,000, at a monthly interest rate of 0.003, based on 300 monthly payments, starting in one month’s time.